Daymark Wealth Partners LLC Has $1.37 Million Stock Holdings in Trane Technologies plc $TT

Daymark Wealth Partners LLC lifted its stake in shares of Trane Technologies plc (NYSE:TT) by 1.0% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 3,127 shares of the company’s stock after buying an additional 31 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Trane Technologies were worth $1,368,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Trane Technologies by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 19,456,776 shares of the company’s stock worth $6,555,377,000 after buying an additional 221,206 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Trane Technologies by 9.8% in the 1st quarter. JPMorgan Chase & Co. now owns 15,722,530 shares of the company’s stock worth $5,297,235,000 after purchasing an additional 1,408,421 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Trane Technologies by 7.2% in the 1st quarter. Ameriprise Financial Inc. now owns 3,585,300 shares of the company’s stock worth $1,208,044,000 after purchasing an additional 241,910 shares in the last quarter. Nuveen LLC acquired a new stake in Trane Technologies in the 1st quarter worth about $877,468,000. Finally, Northern Trust Corp raised its stake in Trane Technologies by 0.7% in the 1st quarter. Northern Trust Corp now owns 2,584,819 shares of the company’s stock worth $870,877,000 after purchasing an additional 17,292 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on TT shares. HSBC cut shares of Trane Technologies from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $415.00 to $460.00 in a research note on Thursday, July 31st. JPMorgan Chase & Co. lifted their price objective on shares of Trane Technologies from $407.00 to $434.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 15th. Barclays dropped their price objective on shares of Trane Technologies from $495.00 to $485.00 and set an “overweight” rating for the company in a research note on Tuesday, September 16th. Morgan Stanley boosted their target price on shares of Trane Technologies from $445.00 to $520.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. Finally, Hsbc Global Res downgraded shares of Trane Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 31st. Six analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $464.29.

Trane Technologies Stock Performance

Shares of Trane Technologies stock opened at $426.66 on Thursday. The company has a 50 day moving average of $416.34 and a 200-day moving average of $417.50. Trane Technologies plc has a 1-year low of $298.15 and a 1-year high of $476.18. The company has a current ratio of 1.10, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The company has a market cap of $94.94 billion, a PE ratio of 33.84, a price-to-earnings-growth ratio of 2.65 and a beta of 1.12.

Trane Technologies (NYSE:TT) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $3.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.79 by $0.09. The company had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.77 billion. Trane Technologies had a net margin of 13.76% and a return on equity of 36.61%. The firm’s revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the firm posted $3.30 EPS. As a group, equities research analysts forecast that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, December 5th will be issued a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $3.76 annualized dividend and a dividend yield of 0.9%. Trane Technologies’s payout ratio is 29.82%.

Insider Activity

In related news, CEO David S. Regnery sold 22,497 shares of Trane Technologies stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $410.00, for a total transaction of $9,223,770.00. Following the sale, the chief executive officer directly owned 123,713 shares of the company’s stock, valued at approximately $50,722,330. The trade was a 15.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.14% of the company’s stock.

About Trane Technologies

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.